Fortescue Ltd (OTCPK:FSUGY)
$ 24.95 -1.35 (-5.13%) Market Cap: 40.19 Bil Enterprise Value: 39.92 Bil PE Ratio: 6.77 PB Ratio: 1.99 GF Score: 86/100

Half Year 2024 Fortescue Ltd Earnings Call Transcript

Feb 22, 2024 / 05:30AM GMT
Release Date Price: $36.69 (+3.40%)
Dino Otranto
Fortescue Ltd - CEO

Welcome all. It's great to be back with you again. And with me today is Mark Hutchinson, Energy's CEO; and Apple Paget, acting CFO. We're joining you from Gabon in Central Africa, and it's been a really productive visit, spending time with the team, the government and a variety of stakeholders around this beautiful country. We were out at Belinga site early this week, and I continue to be amazed by the energy of the team, the potential of the project and the support we have in country.

On to the results. Last month, we presented our quarterly production results, which included our second highest first-half shipments of 94.6 million tonnes. We achieved this while standing by our absolute commitment to safety and keeping costs low to drive performance and ensure we set the business up for future success. We achieved a C1 cost of less than $18 per tonne in the half. And I promise you, we remain laser-focused on maintaining our industry-leading cost position.

That strong operating performance in the first half underpins the outstanding financial results we

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